Capital One Financial Issues Positive Forecast for Occidental Petroleum (NYSE:OXY) Stock Price

Occidental Petroleum (NYSE:OXY) had its price objective raised by Capital One Financial from $67.00 to $70.00 in a research report issued to clients and investors on Wednesday,MarketScreener reports. Capital One Financial‘s price objective indicates a potential upside of 21.83% from the company’s previous close.

Other research analysts have also issued research reports about the stock. Wolfe Research lifted their price target on shares of Occidental Petroleum from $67.00 to $70.00 and gave the company an “outperform” rating in a research note on Monday, April 6th. Truist Financial lowered their price target on Occidental Petroleum from $65.00 to $57.00 and set a “hold” rating on the stock in a research report on Friday, May 8th. Stephens upped their target price on shares of Occidental Petroleum from $59.00 to $74.00 and gave the company an “overweight” rating in a report on Tuesday, March 31st. JPMorgan Chase & Co. cut their price target on Occidental Petroleum from $64.00 to $63.00 in a report on Thursday, May 7th. Finally, Morgan Stanley boosted their price objective on Occidental Petroleum from $73.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, May 21st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $63.74.

Occidental Petroleum Trading Up 1.0%

NYSE:OXY traded up $0.57 during mid-day trading on Wednesday, hitting $57.46. The company had a trading volume of 1,589,629 shares, compared to its average volume of 14,983,489. The firm has a market cap of $57.15 billion, a P/E ratio of 14.46 and a beta of 0.17. The business’s fifty day moving average is $58.93 and its two-hundred day moving average is $49.81. The company has a debt-to-equity ratio of 0.49, a quick ratio of 1.01 and a current ratio of 1.21. Occidental Petroleum has a fifty-two week low of $38.80 and a fifty-two week high of $67.45.

Occidental Petroleum (NYSE:OXY) last released its quarterly earnings data on Tuesday, May 5th. The oil and gas producer reported $1.06 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.46. The business had revenue of $5.11 billion for the quarter, compared to analyst estimates of $5.44 billion. Occidental Petroleum had a net margin of 19.98% and a return on equity of 9.65%. Occidental Petroleum’s quarterly revenue was down 8.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.14 EPS. As a group, research analysts expect that Occidental Petroleum will post 5.33 earnings per share for the current year.

Institutional Investors Weigh In On Occidental Petroleum

Hedge funds and other institutional investors have recently bought and sold shares of the company. Axiom Investment Management LLC bought a new stake in shares of Occidental Petroleum during the first quarter worth about $25,000. GKV Capital Management Co. Inc. acquired a new stake in shares of Occidental Petroleum during the first quarter worth $26,000. Portus Wealth Advisors LLC bought a new position in shares of Occidental Petroleum in the 1st quarter worth about $29,000. Caitlin John LLC bought a new stake in Occidental Petroleum in the fourth quarter worth approximately $29,000. Finally, Activest Wealth Management lifted its position in shares of Occidental Petroleum by 68.5% during the 4th quarter. Activest Wealth Management now owns 750 shares of the oil and gas producer’s stock valued at $31,000 after acquiring an additional 305 shares during the period. Institutional investors own 88.70% of the company’s stock.

Occidental Petroleum Company Profile

Occidental Petroleum Corporation (OXY) is an international energy company engaged primarily in the exploration, production and marketing of oil and natural gas. The company conducts upstream activities to discover and produce hydrocarbons and operates complementary midstream and marketing functions to transport and sell its production. Occidental also owns a chemicals business that manufactures and sells industrial chemicals and related products for a range of end markets.

Occidental’s operations are concentrated in the United States, with a significant presence in the Permian Basin, and it maintains exploration and production activities in several international regions, including parts of the Middle East, Latin America and Africa.